The Wednesday Wellness threads are meant to encourage users to ask for and provide advice and motivation to improve their lives. It isn't intended as a 'containment thread' and any content which could go here could instead be posted in its own thread. You could post:
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Requests for advice and / or encouragement. On basically any topic and for any scale of problem.
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Updates to let us know how you are doing. This provides valuable feedback on past advice / encouragement and will hopefully make people feel a little more motivated to follow through. If you want to be reminded to post your update, see the post titled 'update reminders', below.
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Advice. This can be in response to a request for advice or just something that you think could be generally useful for many people here.
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Encouragement. Probably best directed at specific users, but if you feel like just encouraging people in general I don't think anyone is going to object. I don't think I really need to say this, but just to be clear; encouragement should have a generally positive tone and not shame people (if people feel that shame might be an effective tool for motivating people, please discuss this so we can form a group consensus on how to use it rather than just trying it).
Jump in the discussion.
No email address required.
Notes -
Financial wellness:
What should I read or watch in order to become informed enough to make somewhat prudent and wise investment decisions?
I want to stop my savings from getting eaten by inflation and make some profit each year (or at least some likely profit over a 3 year or 5 year period). I can tolerate low to moderate risk.
Feel free to give straight up specific investment advice too.
The standard argument around here presented in enjoyable (to me) book form: A Random Walk Down Wall Street.
The standard argument around here presented in video form: Ben Felix on YouTube.
And if you can tolerate more risk you can always lever the index funds to get more swings.
Will try to read that book. Cheers.
When you say lever the index funds, you mean leveraging using derivatives or debt to e.g. double the return on the index funds' increase in value? While also basically doubling the risk?
broadly speaking 'leverage' means borrowing money to buy an asset. as long as the rate of interest you are paying on the borrowed money is lower than the rate of return on your asset, the difference between those rates is pure profit.
the risk is that your rate of return is not guaranteed to be higher. without leverage, the most you can lose is the money you put in. with leverage, you could lose your money + be on the hook for the money you borrowed.
I see.
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